Pension issues in SBI–A feeler:



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Quoted below is a feeler since provided by KR Saini by way of his comment on https://uppermost.me/2015/10/28/pension-issuesa-re-look-on-7th-bi-partite-limpings/  being a post in this blog on 28/10/2015 for the information and perusal of the readers:

krsaini
Nov 17, 2015 @ 07:54:21

I UNDERSTAND THAT RESERVE BANK OF VINDIA HAD REVISED AND UPDATED THE PENSION OF THE EMPLOYEES WHO RETIRED PRIOR TO NOVEMBER’1, 1997, AND THAT THIS REVISION WAS NOT UPHELD BY THE GOVERNMENT OF INDIA. HOWEVER, I BEG TO STATE THAT THERE IS MATERIAL DIFFERENCE IN THE RBI’S CONTENTION AND THAT OF S.B.I’S PENSION SCHEME. IN THE CASE OF RBI THEY HAVE GIVEN ENHANCED PENSION CALCULATED ON ”NOTIONAL PAY” i.e. ON A SALARY WHICH THE EMPLOYEE NEVER EARNED AND WAS NOT ENTITLED TO. THE ”NOTIONAL PAY” WAS BASEED ON SUBSEQUENT REVISION OF SALARY AND WILL PERPETUATE CONTINUOUS REVISION,MORE OR LESS ON SIMILAR LINES AS THAT FOR THE CENTRAL PENSIONERS IN ACCORDANCE WITH THE 5TH PAY COMMISSION AWARD.
IN S.B.I,THIS IS NOT THE CASE.THE PENSION DOES NOT DEPEND ON ANY ”NOTIONAL PAY” CONCEPT,BUT PAID ON LAST AVERAGE PAY ACTULLY DRAWN AND REMAINS STAGNANT THEREAFTER. HOWEVER IN THE CASE OF 7TH BIPARTITE RETIREES THE PENSION IS BEING CALCULATED ON THE BASIS OF LAST average pay drawn BY AN EMPLOYEE AS PER THE 6TH BIPARTITE PAY SCALES,WHICH IS AN ABERRATION AND NEEDS CORRECTION.
K.R.SAINI

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7 thoughts on “Pension issues in SBI–A feeler:”

  1. IN STATE BANK OF INDIA ALL THE PENSIONERS ARE BEING PAID PENSION ON THE BASIS OF LAST 12 MONTHS AVERAGE PAY W.E.F 1.1.1986 BUT EXCEPT 7TH BIPARTITE RETIREES.PENSION CANNOT BE PAID ON NOTIONAL PAY.SINGLE OUT OF THE 7TH BIPARTITE RETIREES DURING THE CURRENCY OF 7TH BIPARTITE SETTLEMENT AND PENSION BEING PAID ON THE BASIS 6TH BIPARTITE SETTLEMENT PAY VIOLATE OF ARTICLE 14 AND 21 OF THE CONSTITUTION OF INDIA.
    IT IS LEGAL,EQUITABLE AND JUSTIFIED TO PROVIDE FOR PENSION FOR 7TH BIPARTITE RETIREES ON THE SAME FOTTING AS THAT OF 8TH AND 9TH BIPARTITE RETIREES.DENYING THE SAME TO THESE RETIREES(7TH BIPARTITE RETIREES) AMOUNTS TO DISCRIMINATION.
    PENSION TO 7TH BIPARTITE RETIREES IS NOT ON THE LINE OF PENSION FUND REGULATION 23(1) OF THE STATE BANK OF INDIA EMPLOYEES PENSION FUND REGULATIONS–2014.
    K.R.SAINI

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  2. RELIANCE IS PLACED ON A.I.R 1983 S.C 130(SUPREMECOURT OF INDIA JUDGEMENT) FOR THE PROPPOSITION THAT”PENSION IS NO LONGER A BOUNTY BUT IS A RIGHT.”GOVERNED BY PENSION RULES/REGULATIONS.ALTHOUGH PENSION HAS BEEN PAID TO THE 7TH BIPARTITE RETIREES OF S.BI,HOWEWVER,IT HAS BEEN CALCULATED ON THE BASIS OF PAY UNDER THE 6TH BIPARTITE SETTLEMENT IS UNJUSTIFIED.QUESTIONS IS THAT THE ONLYISSUE THAT NEEDS TO BE CONSIDERED TO PAY PENSION ON THE BASIS OF WHICH THE PENSIONERY BENEFITS ARE TO BE CALCULATED TO 7TH BIPARTITE RETIREES. ONTHE BASIS OF 7TH BIPARTITE PAY SCALES.
    K.R.SAINI

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  3. THE 7TH BIPARTITE SETTLEMENT DATED THE 27TH MARCH,2000 AND CLAUSE 16 OF THE SETTLEMENT SPECICALLY PROVIDES THAT ”PAY” FOR THE PURPOSES OF PENSION IS THE AMOUNT DRAWN IN TERMS OF 6TH BIPARTITE SETTLEMENT.BUT THIS CLAUSE 16 IS SUBJECT TO THE AMENDMENTS THAT MAY BE MADE TO PROVISIONS OF 1995 REGULATIONS(FOR EMPLOYEES OF OTHER NATIONALISED BANKS NOT FOR S.B.I). IN THE CASE OF S.B.I CASE,1995 REGULATIONS HAVE NO APPLICATION AS ALL THE EMPLOYEES OF STATE BANK OF INDIA ARE GOVERNED BY THE 1955 RULES(S.B.I EMPLOYEES PENSION RFUND RULES 1955) NOW S.BI EMPLOYEES PENSION FUND REGULATIONS–2014 AND OUR PENSION RULES/REGULATIONS ARETHE STATUTORY PENSION RULES.
    K.R.SAINI

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  4. ALL THE 7TH BIPARTITE RETIREES RETIRED BETWEEN 1.11.1997 TO 31.10.2002 BY WHICH TIME THE 7TH BIPARTITE SETTLEMENT WAS IN EXISTENCE AND REVISIO OF PAY HAD ALSO BEEN EFFECTED.IN FACT,AT THE TIME OFRETIREMENT(S) ALL THE PENSIONERS OF THE 7TH BIPARTITE SETTLED WERE RECEIVING THE REVISED PAY UNDER THE 7TH BIPARTITE SETTLEMENT.
    THIS OUGHT TO HAVE BEEN MADE THE BASIS WHICH CALCULATING THE PENSION BENEFITS,THE 7TH BIPARTITE SETTLEMENT CAME IN TO EFFECT ON AND FROM 1ST NOVEMBER,1997 FRORVA PERIOD OF 5B YEARS I.E TILL 31.10.2002.

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  5. IN NUT SHELL
    THE LEGAL POSITION WOULD BE THAT IF PO9ST SUPERANNUATION OF ANV EMPLOYEE WAGES ARE INCREASED FROM A DATE ANTERIER FROM THE DATE OF SUPERANNUATION AND DIFFERENTIAL PAID,FOR PURPOSE OF COMPUTING PENSION INDEXING THE LAST 12 MONTHS DRAWN WAGES THE PENSION WOULD HAVE TO BE REFIXED KEEPING IN VIEW THE INCREASED PAY.
    IN THIS CONNECTION ,KINDLY REFER TO SHRI KIRAN KUMAR JAIPURIER’S JUDGEMENT OF DELHI HIGH COURT ON 6.04.2015.
    K.R.SAINI

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  6. I do not know whether I am right or wrong, But in my opinion the fight of Pensioners in SBI is not at right track and badly indulged in court cases. Moreover these cases seems to be for the benefit of the certain years and not for all. Today I was not surprised to see the Justice Mathur Report on Central and PSU employees salary revision and also the Pensioners revision of Pensions, This was minimum 24% 63%. Moreover the one rank and one pension was also told for all. The employee who retired 10 years ago and the employee who is retiring immediately will have not much difference. Moreover their Gratuity and Pension has also been substantially revised. This reports to be read very seriously and then to decide whether the fight of Pensioners in SBI is on right Track. The fight which is not for each and every cadre may not be much fruitful and satisfactory for all. I just received one month ago that now the Medical Benefit Pass Book scheme will be given to all retirees who take vrs before 60 years of age BUT will not be given to them who have taken retirement before the issue of this circular. The Management who is so CHEAP and CONSERVATIVE that they are not approving the medical benefit for the past retirees who have even done more than 33 years of services and the benefit of this medical which is being given on huge premium recovered from retiring employees to the tune of over 50 to 60,000 rupees, how can they provide justice to us. There is only one alternative of Do or Die and start Big agitation from the retired employees. I am also surprised that in Central Government the Gratuity revision was wef 01–01-2006 whenever in SBI it was not given to me and others who took vrs on 30-04-2007. I am not personnel here but when any fight will not be universal for all and will not attract Median attention may not be fully materialized.

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  7. VERY IMPORTANT DEVELOMENT:

    Affected SBH, SBT, SBM Employees:(Latest DEVELOMENT as on 05.01.2016: it is understood SBI withdrew the cases and issued a circular with the last date 20.1.16, for payment of Pension to VRS Optees of 2001, who have completed 15 years of service.) and EXit Option Retireesalso. Please refer SBH website for details, and TOI advt by SBH. Please spread the news to the VRS Optees, to enable them to get Pension..

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